Warning to Non-US residents do not play!!

[Fmu004]

If you are not a US resident, you may not be aware of a (new) policy. RealTime will withhold 30% of any winnings when you try to withdraw. I have been in contact with them but they do not seem too concerned since Canadians may only be a small percentage of players on this site (and most don't know about this). I have been looking into this and here is the TRUTH:

1) only net winnings over $600 need to be reported
2) a non-resident only needs to fill out a W8-BEN to avoid ANY tax withholding

I have confirmed this with all the big Fantasy sites out there so I believe RealTime is either misinformed or keeping an extra 30% for no reason.

Frank

[Wolfpack8181]

Can anyone from rt either confirm or deny this please?
I play and I am from Canada.
Thanks.

[Fmu004]

Hey there - trust me on this one. I have been in contact with Vince and received a direct reply from the owner. They will take 30% of any winnings - you can try to get it back from the IRS (good luck). This is new (I did not have any "tax" deducted in the past on my winnings). You can e-mail them yourself.

I have done hours of research on this. Many of the sites will require you to fill out a form called a W8-BEN so you do not have anything held back. You can draft elsewhere instead. Taking 30% on top of the already ridiculous vig these sites take is not worth it!

[Wolfpack8181]

I have not signed up for any money leagues this yr as I have not heard from rt or any reasoning on this. I have money coming from baseball and after this yr in my football league, I guess I am forced to leave. paying an extra 30 % is just pushing out customers. sorry to see rt has gone this way.
It always confuses me my companies wish to make certain rules to get a few extra bucks and make customers jump through hoops for no reason.

[Wolfpack8181]

Maybe before next yr Someone from rt will reply on this post. It would be nice to know exactly why. If you dont want Canadians playing on your site just say so. Why screw them over and hide. Just please post so everyone actually knows before they sign up. It states nothing in any rules I have read.
I guess I need to locate a mlb site and football site for next yr.

[Wolfpack8181]

I have done some research and have found out RT is the only one holding back Canadians 30% for some reason.
Very disappointing as they haven't even made an official comment or put anything in the rules stating this. You do state that if you win over 600 you need to fill out the form for U.S residents, but nothing regarding Canadians.
Is there anyone that can make a statement on this? I have heard a rep say something but they obviously have no real info as they can't say how we get any cash back. I would figure a site as big as this one would want to keep its customers happy and stay.

[Akmcgavin]

USA Lmao

[autopsychic]

What's wrong with withholding American income tax? If you make that money while gambling with a company that is IN America, you must pay your fair share. You can always choose a Canadian company to gamble with.

[Haitian]

It is not our policy, it is US tax law. 30% of all foreign winnings (including Canada) MUST be withheld and sent to the IRS. This is NOT an option. If you are playing on another site where they do not withhold 30% of your winnings then they are breaking the law. Please let me know who they are and I will be happy to report them to the IRS.

Next year we will supply all foreign winners with a 1042S tax form, detailing the amount withheld. The winners will have the option to declare any losses offsetting those winnings to claim some or all of the withholding.

FYI, there are other companies withholding the 30% of winnings. CDM is just one example. This is not something we wish to do, it is something we HAVE to do.

This link outlines how Canadians can get their withholding back, AFTER it was held. One important note: This is reference to casino winnings, where only jackpots greater than $1200 are withheld. I spoke to a knowledgeable representative at Grants International. Unfortunately, fantasy sports contests are not the same as winning a jackpot, so ALL winnings must be withheld. This does not mean that you cannot claim it all back, but that is up to you to argue before the IRS, not us. We are just required to withhold it.

http://www.grantsinternational.com/casinotaxrefund.htm

[FatLivesMatter]

This is what you get for all that free health care... it's time to pay the piper!!! I've been saying for years we need to invade Canada and this is the opportune time to do it, while 73.24338% of the countries wealth is being held up by RT SPORTS. %^$# CANADA EH!!! USA USA USA

[Wolfpack8181]

Haitin- I thank you for a response. If the link is only for casino winnings and doesnt count for fantasy sports, can you please find out more how dfs canadian players can get money back. Or am I on my own for that? It would be nice if they tell you the law how to go about getting moneys back. I appreciate any and all responses from you. If this thread was answered much earlier people wouldnt be so upset.
I also am aware there have been new rules and licenses etc for dfs and fantasy. It would have been nice if it wasnt a surprise and noted where everyone can see it.
I assume the 3 peanut gallery commenters needed to say something and since there combined IQ is prob less than 50 I will disregard there comments.

[Vikingsaint]

Just wanted to post something positive i love haiti

[FatLivesMatter]

3 IQ's that add up to 50??? Still 45 points higher than the whole village of Canada.... WOOOOO!!!!

[bear_n_it_alll]

Haitin- I thank you for a response. If the link is only for casino winnings and doesnt count for fantasy sports, can you please find out more how dfs canadian players can get money back. Or am I on my own for that? It would be nice if they tell you the law how to go about getting moneys back. I appreciate any and all responses from you. If this thread was answered much earlier people wouldnt be so upset.
I also am aware there have been new rules and licenses etc for dfs and fantasy. It would have been nice if it wasnt a surprise and noted where everyone can see it.
I assume the 3 peanut gallery commenters needed to say something and since there combined IQ is prob less than 50 I will disregard there comments.

I can't see why that would not apply to FF as well. I spoke with a lawyer and he said it should be recoverable. But with a fee ... of course. So cashing out a couple G's might not be worth it.
found this on google

https://www.hutcheson.ca/question/fandu ... -canadian/

[Haitian]

Haitin- I thank you for a response. If the link is only for casino winnings and doesnt count for fantasy sports, can you please find out more how dfs canadian players can get money back. Or am I on my own for that? It would be nice if they tell you the law how to go about getting moneys back. I appreciate any and all responses from you. If this thread was answered much earlier people wouldnt be so upset.
I also am aware there have been new rules and licenses etc for dfs and fantasy. It would have been nice if it wasnt a surprise and noted where everyone can see it.
I assume the 3 peanut gallery commenters needed to say something and since there combined IQ is prob less than 50 I will disregard there comments.

Wolfpack -- I know the link talks about Casino winnings, but I talked to the authors of that document and they claim that ALL FF winnings should be withheld so, in fact, it is MORE stringent when it comes to fantasy games. I wish that was not the case, and I am willing to talk to any lawyer who is well versed in Canadian/US tax law and fantasy contests, but we have to err on the side of caution. In this case, we are siding with what we were told by Grant International.

FYI -- we do talk about US and Foreign taxes on the rules pages for all of our games. This is from our All-American Fantasy Football rules page:

Taxes

US Residents: Prize winnings of $600 or more per calednar year must be claimed as income. Participants receiving $600 or more in winnings are required to submit their social security number for tax purposes. This SSN will be verified using the participant's account information for validity. By February 15th of the next calendar year all participants receiving $600 or more in winnings will have a tax form 1099-MISC, detailing the taxable amount of their winnings, attached to their personal account. Participats will be notified via e-mail and online (when they access their personal account) of the presence of the 1099-MISC form. It is the sole responsibility of the participant to print out the form and include it in their tax return to the IRS. Per tax law, RealTime Fantasy Sports will provide a copy of the 1099-MISC to the IRS for their records.

Non-US residents: All prize winnings are succeptible to a 30% foreign winnings withholding. Withholdings will be deducted from prize distributions and sent to the IRS. By February 15th of the next calendar year all non-US residents will have a tax form 1042S, detailing the amount of prize money withheld, attached to their personal account. Participats will be notified via e-mail and online (when they access their personal account) of the presence of the 1042S form. It is the sole responsibility of the participant to print out the form and determine the amount, if any, that can be re-claimed. Per tax law, RealTime Fantasy Sports will provide a copy of the 1042S to the IRS for their records.


Yeah, it sucks. I know...trust me.